By the name of the Town of Parachute, the municipal corporation shall have perpetual succession; shall own, possess and hold all property, real and personal heretofore owned, possessed and held by the Town of Parachute, and shall assume and manage and dispose of all trusts in any way connected therewith; shall succeed to all the rights and liabilities and shall acquire all benefits and shall assume and pay all bonds, obligations and indebtedness of the Town of Parachute, and may sue, defend, plead and be impleaded in all courts and places and in all matters.